Market Review for KLCI
- The FBM KLCI index lost 1.21 points or 0.07% on Monday. Finance Index fell 0.03% to 15853.76 points, Properties Index dropped 0.86% to 1297.29 points and Plantation Index down 0.22% to 7753.45 points.
- Market Traded within a range of 12.99 points between an intraday high of 1787.29 and a low of 1774.30 during the session.
- The KLCI ended in red by finishing 1.21 points lower at 1780.54, amid cautious sentiment resulted from subdued oil prices, weakening ringgit coupled with this concerns on week's Federal Reserve meeting.
Market Forecast for KLCI
It is anticipated that our index may come down till 1763 level and on the upper
side it is expected to go till 1800 level.
Technical Indicators
RSI stood below the center line at 46.226 with its CCI at -7.116. Difference line of MACD performed at -7.383 above its signal line which performed at -11.754.
Economic Factors
- Malaysian Resources Corporation Bhd (MRCB) has obtained the Securities Commission's (SC) approval for exemption from making a mandatory takeover offer for the rest of Quill Capita Trust (QCT).
- Malton Bhd's Rentak Sejati Sdn Bhd has terminated a RM83.67 million deal to dispose of its land in Shah Alam, Selangor.
- WCT Holdings Bhd is eyeing to derive 20% of the group's net profit from its investment and management division by 2016, from 10% currently.
- BIMB Holdings Bhd's net profit for the fourth quarter ended Dec 31, 2014 leaped more than two fold to RM153.91 million from RM60.15 million a year ago, on the back of a 4.4% revenue jump to RM761.5 million from RM729.5 million.
- KNM Group Bhd plans to enhance its participation in Thailand's renewable energy sector and provide recurring income for the group in the long term by buying two Thai companies for US$24 million (RM88.49 million).
- Ho Hup Construction Company Bhd has entered into a shareholders' agreement (SHA) with Kiara Komposit Sdn Bhd and Daiman Kapital Sdn Bhd, to contribute further capital to their joint entity H2Advance Builders Sdn Bhd, formerly known as Nippon Awantech Sdn Bhd.
- IHH Healthcare Bhd announced that its sale and purchase agreement with Fortis Healthcare Singapore Pte Ltd to acquire Radlink-Asia Pte Ltd expired and ceased to be effective last Friday, due to the non-satisfaction of certain terms and conditions.
- A slower growth pace in household indebtedness, personal loans and credit card debt is a credit positive for Malaysian banks most exposed to household borrowers.
- UMW Oil and Gas Corporation Bhd's share price gained one sen to RM2.15 with 1.84 million shares changing hands despite the company's expectation of a tough year in the drilling market.
- A1' rating has been assigned to the three tranches of senior unsecured notes totalling US$3.75 billion issued by Petronas Capital Ltd and guaranteed by Petroliam Nasional Bhd (Petronas, A1 stable), drawn down from its existing US$15 billion multi-currency global medium term note (MTN) programme.
- KSL Holdings Bhd has set a dividend policy of paying a minimum of 40 per cent of its annual net profit from operations excluding fair value gains, with effect from the 2015 financial year.
- Eversendai Corp Bhd, has been awarded two new contracts worth RM246 million in Saudi Arabia.
- Malaysia will impose a 4.5 per cent export duty on CPO for April 2015, after seven months of exports of duty-free crude palm oil (CPO) since September 2014.
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